Market News
ETHIOPIA 2020 - THE 100 MILLION MARKET
With an aim to become the most favourable investment destination, Ethiopia is currently undertaking massive infrastructural projects. A few of them are:
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The 12000 KM long Addis light railway and Addis-Adama express which has been newly constructed. -
Six major railway routes linking major areas with industry clusters are under construction.
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USD 13 billion worth of road projects have already been sanctioned and many more in the pipeline for allotment
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$4.8 billion hydroelectric dam project the Grand Ethiopian Renaissance Dam project is nearing it completion and is expected to increase the power generation capacity of the country by more than 6000 MW.
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The Government of Ethiopia plans to reach 17000 MW in power generation capacity by 2020, in order to meet the 100% electrification target. Solar, wind, geo-thermal as well as nuclear power plant options are being considered to promote clean energy.
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The country's biggest contributor of foreign investment the Ethiopian Airlines which is also one of the fastest growing and largest aviation group in Africa, will add 37 destinations by 2020 and increase its fleet and cargo capacity by more than 40%.
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The Government of Ethiopia has liberalized major state monopoly companies including Ethiopian Airlines, Ethio-Telecom, Ethiopian shipping Lines and Ethiopian Electric Power Corporation in order to open the sectors for foreign investors
These measures and more have been decided to ultimately help the Ethiopian economy grow and be competitive in the international market.
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Germany invests 352.5 million Euros into Ethiopian infrastructural projects
Posted on :Monday , 23rd December 2019
An ambitious project to provide full water, sanitation and electricity access to all the citizens by the year 2025 has been started The Government of Ethiopia. As announced by Sileshi Bekele (PhD), Minister Water Irrigation and Electricity in Addis Ababa, Ethiopia. He said, “We are anticipating full access of water and sanitation by 2025. Urban water and sanitation system nee. . .
Construction of the saddle dam in GERD project has fully completed
Posted on :Monday , 25th November 2019
The saddle dam of Grand Ethiopian Renaissance Dam (GERD)s construction has fully completed, declared by Engineer Girma Mengistu, the head of civil construction in the project.
Mengistu said that they have finished constructing the upstream face of the saddle dam, which marks the completion of entire saddle dam. The construction took 14 million cubic meters of the concrete embankment.
<. . .20,000 Condos are to be constructed in Addis Ababa city
Posted on :Thursday , 21st November 2019
Construction of 20,504 condos has been launched by Addis Ababa city government. These condos are a part of an urban development program that includes the construction of a total of 500,000 condos in the city.
Launching the housing projects in Kirkos sub-city, Engineer Takele Uma, Deputy Mayor of the city, stated that this new project is going to address the housing problems of nearly 600,. . .
Ethiopia: We're open for business says mining minister
Posted on :Thursday , 31st October 2019
The mining sector in Ethiopia is on the brink of evolutionary growth and progress as the country’s first modern gold mine – KEFI Minerals’ Tulu Kapi moves into development in October.
Ethiopian Mines and Petroleum minister HE. Dr SAMUEL URKATO says the country is looking to drive significant growth from its mining sector a. . .
USD 270 million Water supply project has begun its construction in Ethiopia
Posted on :Friday , 25th October 2019
The water supply project in Mekelle city, the capital of Tigray state, Ethiopia, has begun its construction works. Following the shortage of water supply in the city, the project is intended to mitigate the situation.
The project namely ‘Mekelle Water Supply and Sanitation Project (WSSP)’ is undertaken by China Gezhouba Group(CGGC) with the support of. . .
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